Parallel Energy Trust reported unaudited earnings results for the third quarter ended September 30, 2012. For the quarter, the company's revenue, net of royalties were CAD 16,549,000, funds from operations were CAD 8,433,000, net loss of CAD 6,142,000 and capital expenditures of CAD 7,483,000.

The company reported production for the three month period ended September 30, 2012 averaged 5,760 boe/day for the Trust's 100% interest in the property. Production during the third quarter was impacted by previously announced outages in July and the curtailment of natural gas production from the Carson field in August and September.

The Trust also announced the resignation of Craig Glick from its Board of Directors and the appointment of F. H. 'Mim' James as a replacement on the Board for Mr. Glick. Mr. James has over 30 years of experience in the oil and gas industry, including senior management positions in planning, finance, operations and business development. Mr. James retired as General Manager, Planning and Finance - ConocoPhillips Worldwide Exploration and Production in 2005.

The Trust also confirmed that its cash distribution to be paid on December 21, 2012, in respect of the period from and including November 1, 2012 to November 30, 2012, to unit holders of record on November 30, 2012 will be CAD 0.08 per trust unit. The ex-distribution date is November 28, 2012.